Daily Archives: June 30, 2022, 8:51 am

SEC Rejects Grayscale’s Spot Bitcoin ETF Application

Grayscale Investments’ application to convert its $13.5 billion Grayscale Bitcoin Trust (GBTC) into a spot-based bitcoin ETF was denied by the SEC on Wednesday despite the company’s extensive efforts to win approval (Grayscale is owned by Digital Currency Group, which is also the parent company of CoinDesk). The SEC stated in its filing that the application failed to answer the…

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FCA Says the Crypto Industry Doesn’t Want Them to regulate DeFi

Crypto advocates told the Financial Conduct Authority (FCA), the U.K.’s financial watchdog, that decentralized finance (DeFi) shouldn’t be regulated because it is too difficult to do so. In May, the FCA hosted its first two-day CryptoSprint, where 184 industry participants from the U.K. and other countries gathered to hear the FCA’s thoughts on how the industry should be regulated. Suggestions…

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